Tata Group retains top position as most valuable Indian brand at US$24 billion
Tata Group (brand value up 12% to US$24 billion) continues to be the most valuable brand in India. The brand retains its top position as it led by example through the COVID-19 crisis by innovating using technology to reach the masses. The brand strengthened its strategic business and leadership initiatives with brand building activities across the globe. The brand’s growth with sustainable and inclusive actions at its core is the driving force behind brand Tata.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the world’s biggest brands to the test, and publishes around 100 reports, ranking brands across all sectors and countries. India’s top 100 most valuable and strongest brands are included in the annual Brand Finance India 100 ranking.
Taj is the strongest brand in the nation with AAA Brand Strength rating
In addition to brand value, Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors. Taj Hotels (brand value up 6% to US$314 million) is the strongest brand in the ranking with a Brand Strength Index (BSI) score of 88.9 out of 100 and a corresponding AAA brand rating.
The pandemic and subsequent national lockdowns hit the hospitality sector the most, brands had to re-invent their strategies to remain relevant to the need of tourists. Taj was at the forefront of this with agility and strategic initiatives – offering support to the healthcare sector. The hospitality industry is recovering as five-star business hotels in metropolitan cities across the country have seen occupancy reach 75% to 80% in the past month.
Banking, IT services and telecoms brands achieve high brand value growth post pandemic
Brands in the banking (brand value up 16%), IT services (brand value up 15%) and telecoms (brand value up 7%) sectors in India achieve high brand value as the economy is recovering from the impact of COVID-19.
The Indian banking sector is led by State Bank of India (SBI), the brand is the top banking brand in South Asia with a 29% growth in brand value, valued at US$7.5 billion and is 6th most valuable brand in India and is among the top 100 valuable brands in India.
2022 is a tipping point for the Indian IT services industry – the year in which the industry crossed US$200 billion in total revenue and 5 million in total workforce. Indian IT brands are truly global today, TCS (brand value up 12% to US$16.7 billion) and Infosys (brand value up 52% to US$12.8 billion) are among the top 3 most valuable brands globally at the 2nd and 3rd spot respectively – behind Accenture (brand value up 39% to US$36.2 billion), Wipro (brand value up 48% to US$6.4 billion), HCL (brand value up 10% to US$6.1 billion) and Tech Mahindra (brand value up 30% to US$3.0 billion) feature in the top 15 most valuable IT services brands globally.
The Indian telecommunications industry is making its mark globally, India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion users and has registered strong growth in the last decade. Airtel (brand value of US$7.7 billion) ranks No.1 in telecommunication sector in India with an impressive 28% growth in brand value. At second position, Jio (brand value up 5% to US$5.1 billion) shows gains in growth followed by VI (brand value of US$767 million) which continues to be resilient despite its numerous business challenges.
Infosys becomes second most valuable Indian brand, overtaking LIC
Infosys (brand value up 52% to US$12.8 billion) has overtaken LIC (brand value up 28% to US$11.1 billion) to become the second most valuable Indian brand this year. Infosys has shown impressive growth this year, making it the fastest-growing IT services brand globally of 2022, thanks to its commitment to clients and focus on innovation.
While the COVID-19 pandemic spurred the necessity of a digital transition across the globe, Infosys stepped up to the challenge, resulting in its monumental 80% leap in brand value over the course of the past two years. Also looking into the future, Infosys is a brand to watch and one that can be expected to see continued brand value growth in the years to come.
Reliance brand value grows to retain fourth place, while SBI is most valuable bank brand in South Asia
Reliance (brand value up 5% to US$8.6 billion) achieved some marginal brand value growth to retain fourth position, while the State Bank of India (brand value up 29% to US$7.5 billion) improved one ranking position to increase from 7th to 6th. The State Bank of India has benefited from broader financial recovery in India as the nation recovers well from the last wave of COVID-19.